Posting A/R invoice to prior month?

dale_draper

Well Known Member
Will back posting A/R invoices to a prior month mess up the A/R ledger?
In other words, by back posting an A/R invoice with a G/L date to the prior
month, will the "as of" generation pick those transactions up?

TIA

Dale
a7.3c9
v4r4
 
Dale,

Posting AR invoices with a prior INVOICE date will
only affect the AR aging and collections programs.
However, posting with a prior month GL date will
change all generated financial reports. You'll need
to work with your accounting manager to ensure data is
posted correctly.

If you need to use a prior AR date, you'll need to
change the company GL and AR dates to the prior month,
then enter the invoice(s) and post the batch. Once
the post is completed, change the GL date back for
that company. The AR date will automatically change
(the program does not allow AR or AP date to be
earlier than the GL date.) This is usally done when
no other data entry is being done to prevent date
errors.
--- dale_draper <[email protected]> wrote:
http://www.jdelist.com/cgi-bin/wwwthreads/showflat.pl?Cat=0&Board=Apps&Number=31791


__________________________________________________


World, OW B733X and Xe
 
Dale,

I would say yes to you question.

Yes, your ledger will be messed up in the way that you will have to restate all the Financial papers that you may have run and already audited on (Income statement, Balance Sheet and perhaps your Cash flow analysis) for all the months after the period you will post cash for (back dated).

Your ledger, per say, will be OK, but all financial papers won't be worth the paper that they are printed on.

Is it worth it for you to go that way?

Can't you post it to the current period and have your accountants explain what happen; such as: Accounts Receivable and Sales are overstated for this month because we are booking sales that really should have been booked 2 months ago. That should satisfy anyone reading your financial statements.

Knowing what is going on now with companies having to restate their statements (IBM, GE, TYCO, ENRON, etc..)I would not backpost anything that would require restatement of Financial papers.

Also, if the "As of" file generation is using the "date created" stamp given when a record is created, yes it would not pick up these transactions, however if it is using G/L date therefore it will pick them up.

All this blob just to tell you not to do it.

Good luck....

OWman
XE, Oracle, SP16, Sun
 
Thank you for the advice, but as our books are still open for the period in
question, so the problems you mention are moot. I'd agree if we were
contemplating posting to a previously closed period. That would be stupid.
Normally we wouldn't bother, but 3/31 is our year end, and the credit dept.
was slow in getting some write off's and other adjustments through.
 
Re: RE: Posting A/R invoice to prior month?

You should have said that you were trying to close the year and that the period in question was the last period of the year(last year, being that your year ended 3/31/02), that would have saved me from blobing so much about restatement of Financial papers.

Good luck.





OWman
XE, Oracle, SP16, Sun
 
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